Sensex ends 232 pts lower on housing finance scam

Housing scam: CBI arrests top officials of PSU banks, FIs

4

MUMBAI: The Central Bureau of India (CBI) on Wednesday arrested top officials from some leading PSU banks and public/private financial institutions. The CBI said that the officers of Bank of India, Central bank of India, Punjab National bank and LIC HF were receiving illegal gratification for facilitating loans. Executives at Money Matters were arrested for broking bribery deals . Five separate cases have been registered and investigations are on, the leading investigation agency said in a press conference. It hasn't put up a figure to the size of the scam.

The biggest arrests included the CEO of LIC Housing Finance. The CMD of Money Matters Rajesh Sharma was also arrested. Executives from PNB, Central Bank of India, Bank of India were arrested in these raids. Among other arrests were two executives at Money Matters.

Earlier in the day, shares of LIC Housing Finance plunged 18.32 per cent to Rs 1068.55 on the BSE. It touched a low of Rs 1031.10 in trade. Shares of Central Bank of India also tanked on the same issue. The scrip fell 8.02 per cent to Rs 197.90 on the BSE. It touched a low of Rs 191.40 in trade.

Shares of Money Matters Financial Services also faced selling pressure. The scrip tanked 19.99 per cent to intraday low of Rs 531.20 on the BSE on rumours of a raid. 

 Nifty ends at 5865; LIC Hsg Fin, Central Bank t...

CBI busts loan scam, nabs LIC Hsg CEO, top PSB officials 

 Sensex ends 232 pts lower on housing finance scam

 

Morning calls

Technical Views of Varun Industries,Tata Steel and Infosys

Dow Jones analysis after closing bell 

US DOLLAR looking positive

Heard on the Street 

Intraday F&O calls 

Src: Myiris, NCP blog, Bramesh blog etc

BT 500: India's most valuable companies

BT 500: India's most valuable companies

The buzz is back - and the upswing in valuations is the best indicator of the turnaround in not just sentiment on the street but also of fortunes of corporate India. As the economy leaves most of the world behind and gets set to clock 8.5 per cent growth in the current financial year, India Inc. is riding a boom in increased domestic consumption even as it slowly but surely conquers new markets overseas.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investors, primarily of the foreign institutional variety, have sensed the upside. The overseas moneybags have pumped all of $23.5 billion into Indian equities in 2010. That is reflected in the growth in market capitalisation in the first half of the current financial year - which is what Business Today considers for its rankings.

The overall market value of the BT 500 companies is up smartly by 42 per cent; the 500 to 1,000 pack has made investors richer by 74 per cent, and the 50 companies in the public sector undertaking listing are more valuable by 23 per cent than a year ago. That's a smart recovery from the downturn of the previous study in 2009, when the top 500 lost 7.32 per cent in value and the second half of the list had 30 per cent of their wealth eroded.

In numbers Leaders through the years BT 500 newcomers India's most valuable companies-Private sector The next 500 companies India's most valuable companies-Public sector Companies Index Small investors

Leading that resurgence are good old blue chips like Tata Steel, Tata Motors, Hindalco and Sterlite, which have benefited from 

robust growth in sales (of autos, for instance), and an upturn in prices of commodities like steel, aluminium and copper. Hindalco and Tata Steel also gained because investors are once again seeing brighter prospects for the big-ticket acquisitions made a few years ago - of Novelis in Canada and Corus, now renamed Tata Steel Europe, respectively. Tata Motors is also reaping the benefits of a pretty sensational turnaround in the performance of Jaguar and 

 

Land Rover, the two brands it had acquired from Ford Motor. Lower down the charts, relatively new-age sectors like aviation and organised retailing have kept investors busy, with SpiceJet and Shopper's Stop returning to the black.

The disappointments? Perhaps the biggest one is at the top of the heap: Mukesh Ambani's Reliance Industries, which has traditionally been an investor favourite, has underperformed as investors are not confident about its ambitious expansion plans. Ditto with the companies in Anil Ambani's stable, which have to convince the street that they can execute mega-projects . The telecom pack, too, has come under pressure after nearly eight years of rahrah growth. That's reflected in another top-level shuffle, where Bharti Airtel has lost 24 per cent in value, and is down two places to No. 4, and the rest of our BT 500 features for more.

 In numbers

• Leaders through the years
• BT 500 newcomers
• India's most valuable companies-Private sector
• The next 500 companies
• India's most valuable companies-Public sector
• Companies Index
• Small investors  

• Tata's game changers
• Goodbye good buy
• In the name of family

 *****************************************

Red Herring Top 100 Asia Announced

 

 

 Src: Businesstoday.in, RedHerring

Stock Reports -2

Who sold on Friday?

 

 

Thomas Cook: Institutional Radar

 

 

Eyes or Ears

 

 

 Diamond in NIFTY

 

 

UNITECH enters bear market 

Trading strategy for 3 buzzing stocks 

 

 

Pick of the Week - Nov 20 2010

 

 

5 Themes for 5 years

 

 

Pick of the Week: Dabur 

Grey Market Premiums - Nov 19 2010

 

 

BHEL looks weak-Avoid

 

Nifty Future Weekend Post

 

 

 

Src: NCP blog, TOT blog, AKP blog and SOM blog, MYiris etc

Stock Reports -1

STOCKS: Educomp Solutions: Buy

 

STOCKS: J&K Bank: Buy
Fresh investments can be considered in the stock of J&K Bank, which is promoted by the Government of Jammu and Kashmir but has characteristics of a private bank. J&K Bank is a development finance institution in Jammu and Kashmir ...

STOCKS: Exide Industries: Buy
Investors with a two-to-three-year perspective can invest in Exide Industries. Robust demand for automotive batteries, capacity expansions, limited exposure to the telecom batteries segment and increased sourcing of raw material from ...

STOCKS: Kingfisher Airlines: Sell
Like its peers in the Indian aviation space, Kingfisher Airlines has been able to show improvement in performance metrics over the past few quarters, aided by an uptick in demand for air travel in the country. Also, the company has been ...

TECHNICAL ANALYSIS: Index Outlook — Looking for a foothold
Global jitters continued to take their toll on Indian stock prices and yanked the Sensex below the 20,000 mark in the first half of the week. Even as other markets stabilised towards weekend on hopes that Ireland was moving towards a ... 

TECHNICAL ANALYSIS: Pivotals
Prolonging its correction, the stock tumbled 6 per cent last week. This fall has conclusively breached both its 50- and 200-day moving averages at Rs 1,045 and Rs 1,035 respectively, which were important supports. RIL is testing its next ...

TECHNICAL ANALYSIS: Query corner: IDBI Bank reversing from all-time high
Please let me know the medium-term outlook of BL Kashyap and Sons bought at Rs 47. Kishore ...

TECHNICAL ANALYSIS: Sizzling Stocks
Unitech nose-dived 16 per cent, emphatically penetrating its 200-day moving average around Rs 80 and key intermediate-term support at Rs 75. The stock has completely retraced its previous up move that commenced from May low of Rs 65 that ended ... 

Foreign funds turn net sellers for first time in 25 weeks

CIL is India's 3rd most valued firm; mcap at Rs 2,09, 671 cr

Nifty Weekly Levels for Expiry Week 

Sensex may plunge further on 2G, mkts to see selective buying 

Src: Bramesh blog, ET, Businessline and etc

Sensex crash: Dalal Street now faces trust deficit

Sensex crash: Dalal Street now faces trust defi... 

MUMBAI: Derivative traders have become pessimistic about the prospects of the near-term market after the Nifty fell below the psychological 6000-mark on Tuesday.

“Option writers (sellers) have unwound their positions in 6000 put, which had the highest amount of open interest, implying weakness for the Nifty,” said Manoj Murlidharan, AVP-Derivatives, IIFL-PReMIA. “Investors should use any relief rally to exit their long positions,” he said.

The Nifty fell 133 points, or 2.2%, to 5988.70 on Tuesday, tracking weakness in global markets. Nifty November futures closed at a six-point premium to the spot as against 16 points on Monday, suggesting unwinding of long positions.

“This drop in premium was due to the spurt in short positions created in the system in the past two trading sessions. Earlier, institutions hedged their positions by buying Nifty futures due to which the premium was maintained, but, with the change in sentiment, investors have been selling heavily,” Mr Murlidharan said.

Foreign institutions have sold Nifty futures worth Rs 4,000 crore in the past five trading sessions and have written (sold) call options of 6100 and 6200 strikes, suggesting that the Nifty could find it tough to cross these levels.

While call options of 6200 and 6300 strikes saw over 81 lakh and 98 lakh units added in open interest, 6100 put saw heavy unwinding of positions as it shed more than 12 lakh units in open interest.

Traders expect the Nifty to correct till 5850-5875 levels as most of the stocks have witnessed delivery-based selling. Though the Nifty has found good support around 5980 in the past, traders remain wary this time.

The India Volatility Index (VIX), a measure of traders’ expectation of volatility, rose by 4.35% to close at 21.13%. Traders say that with only a few trading sessions remaining before the expiry of the current series, the volatility is expected to increase.

“If the global markets do not find support, the volatility will increase further below 6000 levels,” said Amit Gupta, Head-Derivatives, ICICI Securities .

He advised against creating fresh short positions at current levels. Traders should wait for a spike till the 6030-6050 levels, before short-selling again, he said.  

9 operators sitting on spectrum worth 37k crore 

2G scam: Lost revenue could have wiped fiscal deficit 

2G scam: ED questions Unitech founders on fund transfers from abroad

Raja favoured RCom and Swan, alleges CAG

Over 70% of 2G licence illegal: CAG 

ET Review: Motorola FlipOut

 

 

China preparing steps to control price hikes

Src: ECONOMICTIMES

Stock Tips

MUNDRA PORT,RANBAXY LABS,TATA MOTORS technical charts

Heard on Street: Bank Nifty best performer, but Old Fox’s short-selling 

SBI: Shorting Opportunity

 

Tata Motors: Seeking Support

 

Rel Power Opportunity: YES or No

 

Usher Agro: Has it’s time come?

 

 

QE2 and USD index: Ulta Pulta Impact

 

Apollotyres & Why traders lose money?

 

Intraday F&O calls   

Technical calls for intra-day 

 

 

Sensex at 21k-the Journey Ahead. Free Seminar in Ahmedabad

 

 

 

 Src: All Leading webs/blogs (Mktcalls, Bramesh blog, SOM blog, ET, Myiris and etc)

 

 

 

 

Morning Calls

Option strategies – Covered call, Covered put

Nifty Weekly Technical Analysis 

NIFTY

 

Nifty Views

 

 

SPARC: Breakout in Shaky market

 

 

Should One Panic?

 

Check out which funds are up, down
ET Bureau 2 hours ago

Here, we take a closer look at the performance of various schemes during the September quarter.

Investors can consider investing in international funds but beware of the Rupee
Shailesh Menon 5 hours ago

Emerging markets account for about 50% of the world’s GDP and command a petty 8% weightage over world market cap with lots of potential upside.

Bull market on, long-term investments shouldn't be reduced
Deepak Mohoni 8 Nov 2010, 05:24

Purchases made in the last fortnight should start paying off now, as intermediate uptrend is on the way. The next opportunity to buy for the long term would be when an intermediate downtrend develops & runs for a week or more.

Corporate round up: Sobha Developers, Dabur
ET Bureau 8 Nov 2010, 05:18

SDL's total income rose 90% to Rs 427 crore that included a boost of Rs 114 crore from sale of land in Pune. Dabur reported healthy growth in September 2010 quarter and its net sales increased 14.7%.

US homebuyers headcount at historic lows
REUTERS 8 Nov 2010, 05:16

Two groups of people have been affected by lower mortgage rates. One is homebuyers whose numbers have shrunk to historic lows while the others are those refinancing their mortgages.

Views on Stocks: TATA Chemicals, JSW Energy
ET Bureau 8 Nov 2010, 05:14

Bank of America reiterates the `Underperform’ rating on Tata Chemicals . Tata Chemicals reported a disappointing quarter, with a 25% y-oy decline in recurring PAT.

Firstsource Solutions likely to perform well on new deals
Parul Bhatnagar 8 Nov 2010, 05:12

Firstsource Solutions is likely to perform well going forward on the back of new deals and an expected growth in global IT spend

 

 

 Src:ET, Mktcalls, SOM blog , Bramesh blog etc

 

 

Stock Reports-2

INSIGHT: Time to bet on Indian steel?
Indian steel producers such as SAIL, JSW and Tata Steel have posted spectacular returns of 231, 685 and 315 per cent from the lows of early 2009. On an enterprise value-per-tonne basis, they currently trade at a premium of 45-100 per cent to ...

STOCKS: Cipla: Buy
Investments with at least a two-three year perspective can be considered in Cipla. The company's strong generic pipeline, entry into biosimilars and the likely commercialisation of CFC-free inhalers offer it a significant long-term ...

STOCKS: Nestle India: Book Profits
As a consistent performer within the fancied FMCG sector, the stock of Nestle India has soared over the past year. The stock's 45 per cent return in one year has helped it trounce the BSE FMCG index (up 31 per cent) and pushed the ...

STOCKS: Mphasis: Buy
Investors with a two-year horizon can buy the shares of Mphasis, a provider of ...

STOCKS: Zodiac Clothing Company: Book Profits
Zodiac Clothing Company is a retailer and exporter of premium menswear. At Rs 398, the stock trades at 28 times the trailing four-quarter earnings, on a par with peers such as Provogue India. The company has, however, put up a ...

STOCKS: Voltas: Buy

TECHNICAL ANALYSIS: Pivotals
RIL launched in to a vicious correction last week to decline 5 per cent from its intra-week peak of Rs 1,119. The short-term trend has reversed lower with the breach of Rs 1,060 level. Next support is at Rs 1,045. Presence of both the 50 ...

TECHNICAL ANALYSIS: Sizzling Stocks
It was an electrifying performance by Reliance Power last week. The stock initially soared on receiving credit worth $5 billion from the US Export Import Bank. The up-move accelerated on Thursday on the buzz about the company benefiting ...

TECHNICAL ANALYSIS: Stock Strategy — Consider shorting NTPC, IDBI
NTPC (Rs 192.2): The outlook for NTPC remains negative. The stock seems to have turned weak and could be headed towards Rs 175. There is however a crucial support at Rs 190. Its immediate resistance is at Rs 196. A close above Rs 196 has ...

STOCKS: 52-week loser: Bajaj Hindusthan
The stock of Bajaj Hindusthan has declined 42 per cent over the past year even as the broader market has posted gains. The reversal in the fortunes of the sugar sector and the loss of market fancy for the sector depressed all sugar stocks, ...
  

Blockbuster of the week: S.E. Investments
S.E. Investments (SEIL), a non-banking finance company which has exposure to high yielding micro-finance and SME segments, delivered a return of 349 per cent over the last one year. SEIL also operates a 3.2-MW wind energy plant in Rajasthan ... 

3 weekly technical picks from Edelweiss   

Trading strategy for 3 buzzing stocks

10 Stocks FIIs Love 

Src: HinduBusinessline and Myiris